Goldman Sachs JUST U.S. Large Cap Equity ETF
ALTAR
Score™
4.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
27.3x P/Sales
ratio
2.5x
P/BV
ratio
3.5x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
JUST tracks a tier-weighted index of US-listed large-cap stocks selected based on a survey-based assessment of business behavior.

FUND BASICS
Category US Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date Jun 07, 2018
Assets (mns) $132
Currency USD
Expense ratio 20 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 458
Wgt avg mkt cap (mns) $420,681
Large cap (>$10bn) 96.2%
Mid cap ($2-10bn) 3.7%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.2 %
MICROSOFT CORP 6.1 %
AMAZON.COM INC 5.8 %
FACEBOOK 2.2 %
ALPHABET INC. CLASS C 1.8 %
ALPHABET INC. CLASS A 1.8 %
JOHNSON & JOHNSON 1.7 %
VISA INC-CLASS A SHARES 1.6 %
PROCTER & GAMBLE CO/THE 1.5 %
JPMORGAN CHASE & CO 1.5 %
Total 30.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.9 %
IRELAND 1.8 %
BRITAIN 1.0 %
BERMUDA 0.0 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.1% 8.7% -- -- 9.1%

Market Correlations
versus... Beta R-squared
S&P500 1.01 100%
MSCI EAFE 1.03 87%
MSCI Emg. Mkts. 0.77 72%

Technical Indicators
Recent close $46.45
30d moving avg. $45.29
Annualized volatility 20.2%
Short interest (ETF) 0.7%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 12
Turnover 0.4%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $244,214

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Goldman Sachs JUST U.S. Large Cap Equity ETF ETF based on the alternatives' overlap in portfolio holdings with JUST. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: JUST Expense: 20 bp ALTAR Score™: 4.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH JUST
Ticker Fund
Name
Overlap1
vs JUST
(%)
Expense
ratio
(bp)
Savings
vs JUST
(bp)
ALTAR
Score™
(%)
ALTAR
vs JUST
(%)
PBP Invesco S&P 500 BuyWrite ETF 84.6 49 -29 5.0 +0.1
HSPX Global X S&P 500 Covered Call ETF 83.6 65 -45 4.8 -0.1
MGC Vanguard Mega Cap Index Fund 83.1 7 13 5.2 +0.3
SPY SPDR S&P 500 ETF Trust 82.8 9 11 5.3 +0.4
BKLC BNY Mellon US Large Cap Core Equity ETF 82.8 0 20 5.1 +0.3
IVV iShares Core S&P 500 ETF 82.7 4 16 5.3 +0.5
SPLG SPDR Portfolio Large Cap ETF 82.7 3 17 5.3 +0.5
VOO VANGUARD S&P 500 ETF 82.6 3 17 5.4 +0.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 82.5 20 0 5.3 +0.4
SPXE ProShares S&P 500 Ex-Energy ETF 82.5 27 -7 5.2 +0.4
IWL iShares Russell Top 200 ETF 82.0 15 5 5.0 +0.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 81.0 7 13 5.1 +0.3
VV Vanguard Large-Cap Index Fund 80.3 4 16 5.2 +0.3
SPXN ProShares S&P 500 Ex-Financials ETF 80.2 27 -7 4.9 +0.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 79.9 2 18 5.2 +0.4
SNPE Xtrackers S&P 500 ESG ETF 79.8 11 9 5.0 +0.2
PBUS Invesco PureBeta MSCI USA ETF 79.4 4 16 5.2 +0.3
SPXV ProShares S&P 500 Ex-Health Care ETF 78.6 27 -7 4.9 +0.1
SCHX Schwab U.S. Large-Cap ETF 78.6 3 17 5.2 +0.4
SPTM SPDR Portfolio Total Stock Market ETF 77.8 3 17 5.5 +0.6
VONE Vanguard Russell 1000 ETF 77.2 8 12 5.2 +0.3
SCHK Schwab 1000 Index ETF 76.7 5 15 5.2 +0.3
ESGU iShares MSCI USA ESG Optimized ETF 76.6 15 5 5.0 +0.2
IWB iShares Russell 1000 ETF 76.3 15 5 5.1 +0.3
IYY iShares Dow Jones U.S. ETF 76.0 20 0 5.1 +0.2
ESGV Vanguard ESG U.S. Stock ETF 75.7 12 8 5.1 +0.3
IQSU IQ Candriam ESG US Equity ETF 75.3 9 11 5.0 +0.1
CATH Global X S&P 500 Catholic Values Custom ETF 74.4 29 -9 5.1 +0.3
SCHB Schwab U.S. Broad Market ETF 72.9 3 17 5.2 +0.3
VTHR Vanguard Russell 3000 Index Fund 72.8 10 10 5.1 +0.3
ITOT iShares Core S&P Total U.S. Stock Market ETF 72.6 3 17 5.1 +0.3
IWV iShares Russell 3000 ETF 72.3 20 0 5.0 +0.1
VTI Vanguard Total Stock Market Index Fund 72.2 3 17 5.1 +0.2
OEF iShares S&P 100 ETF 70.1 20 0 4.7 -0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 69.9 12 8 4.8 -0.0
SPXT ProShares S&P 500 Ex-Technology ETF 69.5 27 -7 5.6 +0.7
EPS WisdomTree U.S. Earnings 500 Fund 68.5 8 12 6.4 +1.5
SFY SoFi Select 500 ETF 67.2 0 20 5.2 +0.3
VOOG Vanguard S&P 500 Growth ETF 66.4 10 10 4.2 -0.7
SPYG SPDR Portfolio S&P 500 Growth ETF 66.4 4 16 4.3 -0.6
IVW iShares S&P 500 Growth ETF 66.4 18 2 4.1 -0.8
IUSG iShares Core S&P US Growth ETF 66.2 4 16 4.3 -0.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 66.1 9 11 5.5 +0.6
ESG FlexShares STOXX US ESG Impact Index Fund 66.0 32 -12 5.0 +0.1
JHML John Hancock Multifactor Large Cap ETF 66.0 29 -9 5.5 +0.6
VONG Vanguard Russell 1000 Growth Index Fund 64.2 8 12 4.2 -0.7
XOUT GraniteShares XOUT U.S. Large Cap ETF 63.7 60 -40 4.3 -0.6
AVUS Avantis U.S. Equity ETF 62.4 15 5 5.7 +0.8
QUS SPDR MSCI USA StrategicFactors ETF 61.9 15 5 5.8 +0.9
FNDX Schwab Fundamental U.S. Large Co. Index ETF 61.2 25 -5 6.5 +1.6
NACP Impact Shares NAACP Minority Empowerment ETF 59.1 75 -55 4.5 -0.4
IWF iShares Russell 1000 Growth ETF 59.0 19 1 4.1 -0.8
FNDB Schwab Fundamental U.S. Broad Market Index ETF 58.7 25 -5 6.5 +1.6
PRF Invesco FTSE RAFI US 1000 ETF 58.3 39 -19 6.8 +1.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 58.1 25 -5 6.6 +1.7
XLG Invesco S&P 500 Top 50 ETF 57.9 20 0 4.4 -0.5
DIVB iShares U.S. Dividend & Buyback ETF 57.7 25 -5 6.5 +1.7
DLN WisdomTree U.S. LargeCap Dividend Fund 57.5 28 -8 6.3 +1.5
SCHG Schwab U.S. Large-Cap Growth ETF 57.2 4 16 4.0 -0.8
WOMN Impact Shares YWCA Women's Empowerment ETF 57.2 75 -55 4.4 -0.4
DTD WisdomTree U.S.Total Dividend Fund 56.9 28 -8 6.6 +1.7
VUG Vanguard Growth Index Fund 56.7 4 16 4.0 -0.9
TOK iShares MSCI Kokusai ETF 56.4 25 -5 5.5 +0.6
KOKU Xtrackers MSCI Kokusai Equity ETF 56.2 9 11 5.6 +0.8
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 56.0 15 5 6.1 +1.2
RECS Columbia Research Enhanced Core ETF 55.8 15 5 5.6 +0.7
DSI iShares MSCI KLD 400 Social ETF 55.5 25 -5 5.1 +0.2
IWY iShares Russell Top 200 Growth ETF 55.4 20 0 4.0 -0.8
IUS Invesco Strategic US ETF 54.7 19 1 6.6 +1.7
EXT WisdomTree U.S. Total Earnings Fund 54.4 28 -8 5.2 +0.3
SUSL iShares ESG MSCI USA Leaders ETF 53.0 10 10 5.2 +0.4
ESGG FlexShares STOXX Global ESG Impact Index Fund 52.9 42 -22 5.3 +0.5
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 52.9 10 10 5.2 +0.4
MGK Vanguard Mega Cap Growth ETF 52.4 7 13 4.1 -0.8
URTH iShares MSCI World ETF 52.1 24 -4 5.6 +0.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 52.0 30 -10 6.5 +1.6
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 51.7 49 -29 4.0 -0.9
KRMA Global X Conscious Companies ETF 51.4 43 -23 5.1 +0.2
RWL Invesco S&P 500 Revenue ETF 50.9 39 -19 7.2 +2.3
IWD iShares Russell 1000 Value ETF 50.6 19 1 7.1 +2.3
VLU SPDR S&P 1500 Value Tilt ETF 50.5 12 8 7.4 +2.6
DGRO iShares Core Dividend Growth ETF 50.5 8 12 6.6 +1.7
VOOV Vanguard S&P 500 Value ETF 50.0 15 5 7.3 +2.4
SPYV SPDR Portfolio S&P 500 Value ETF 49.8 4 16 7.4 +2.5
TMFC Motley Fool 100 Index ETF 49.8 50 -30 3.6 -1.2
IVE iShares S&P 500 Value ETF 49.8 18 2 7.2 +2.3
IUSV iShares Core S&P U.S. Value ETF 49.4 4 16 7.4 +2.6
AFLG First Trust Active Factor Large Cap ETF 49.2 55 -35 5.5 +0.6
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 48.7 29 -9 6.2 +1.3
EQWL Invesco Russell Top 200 Equal Weight ETF 48.5 25 -5 6.0 +1.2
HIPR Direxion High Growth ETF 48.5 40 -20 2.8 -2.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 48.4 19 1 5.6 +0.7
VEGN US Vegan Climate ETF 48.0 60 -40 5.1 +0.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 47.9 75 -55 3.7 -1.1
FDMO Fidelity Momentum Factor ETF 47.9 29 -9 3.8 -1.1
FQAL Fidelity Quality Factor ETF 47.1 29 -9 5.4 +0.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 47.0 12 8 4.7 -0.2
ADME Aptus Drawdown Managed Equity ETF 46.6 81 -61 3.5 -1.3
FDLO Fidelity Low Volatility Factor ETF 46.0 29 -9 5.1 +0.2
ACIO Aptus Collared Income Opportunity ETF 45.9 79 -59 4.3 -0.6

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Goldman Sachs JUST U.S. Large Cap Equity ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.7 %
Divided by: Fwd. P/BV 3.3 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 4.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.43 CATEGORY
AVERAGE
1.52
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.